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Virtual Fitting Room Market (Component - Hardware, Software, and Services; End-user - E-commerce, and Physical Store): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : December, 2020

  • Rep Id : ICT00147

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the virtual fitting room market provides in-depth analysis of segments and sub-segments in the global as well as regional virtual fitting room market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional virtual fitting room market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global virtual fitting room market. According to the report, the global virtual fitting room market is projected to grow at a CAGR of 21.80% over the forecast period of 2020-2026.


Virtual Fitting Room Market


Market Insight

Virtual fitting room enables apparel businesses to offer their customers more detailed sizing information to make enhanced clothing purchases online. Retailers can allow customers to create a size profile or create custom sizing charts for their clothing items that will suggest items with the best fit. Apparel businesses can integrate virtual fitting software into their e-commerce platform or in-store kiosks to improve customer experience. The virtual fitting room gives customers the opportunity to virtually dress their personal avatar, in a fully interactive 3D Virtual Dressing Room. VFR dressing solution allocates customers to explore the size and fit as well as to assess different outfits in real-time.

 

The growing adoption of advanced technologies, such as AR and VR, to offer a superior shopping experience to customers is a primary driving factor for the virtual fitting room market. Furthermore, the modern world is a digital world and the number of active internet users across the globe is increasing rapidly. The augmented reality makes advertising more interactive and allows a new way of interaction between the consumers and marketers & advertisers. The adoption of innovative technologies such as IoT, VR, and automation is anticipated to augment market growth in the future. Also, the e-commerce shopping industry has a comparatively higher rate of returns and apparel exchanges due to improper fitting and size. This virtual fitting room technology is being initiated to reduce this exchange and return rate and augment the online shopping experience by various online retailers. These advantages further stimulate the growth of the virtual fitting room market size. However, Complexities in Real-Time Control hamper market growth. Complexities between the virtual computerized world and the real physical world of the virtual fitting room market restrain the market. Moreover, the growing number of startups to raise funds in the virtual fitting room market-creating growth opportunities. Furthermore, the spread has novel coronavirus has had a significant influence on the retail & fashion industry around the world. Many fashion designers and designer houses have stopped their production, which has collaterally damaged the supply chain and the industry. The industries have started to reform their business model for 2021, and many small fashion designers and large fashion houses have stopped or suspended any new technology upgrade in their production units or retail stores to recover from the losses caused by the global lockdown and economic slowdown.

 

In terms of region, North America is anticipated to dominate the Virtual fitting room market over the forecast period. The growing adoption of advanced technologies such as advanced analytics, virtual and augmented reality, advanced robotics, and artificial intelligence by the retail chains is majorly driving the growth of the North America Virtual fitting room market. Moreover, the government and private organizations are investing heavily in R&D for developing advanced VR systems. On the other hand, the Asia Pacific Virtual fitting room market is anticipated to grow with the fastest CAGR over the forecast period. The market growth in the Asia Pacific is attributed to rapid globalization, urbanization, and improving economic conditions. Furthermore, the governments in countries including China and India are promoting the development in the field of AI and Machine Learning, which in turn, augments the growth of the market in the Asia Pacific.

 

Segment Covered

The report on the global virtual fitting room market covers segments such as component and end-user. On the basis of component, the sub-markets include hardware, software, and services. On the basis of end-user, the sub-markets include e-commerce, and physical store.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Zugara, Inc., Visualook, True Fit Corporation, Virtusize AB, SIZEBAY, REACTIVE REALITY GMBH, Secret Sauce Partners, Imaginate Technologies Inc, Fit Analytics GmbH, and Fitnect Interactive.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the virtual fitting room market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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